HTSC(601688)2025-03-28 12:45Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.37 per share (before tax) for the reporting period, pending shareholder approval, with a total proposed cash dividend of RMB 0.52 per share (before tax) for the year[7]. - The company has announced a mid-year cash dividend of RMB 0.15 per share (before tax) to be distributed in October 2024[7]. - The company has increased shareholder returns, completing a total dividend distribution of RMB 5.24 billion for the 2023 fiscal year and 2024 interim dividend[30]. Financial Performance - In 2024, the company achieved operating revenue of RMB 41.47 billion, a year-on-year increase of 13.37%, and net profit attributable to shareholders of RMB 15.35 billion, up 20.40% year-on-year[30]. - The company's total assets reached RMB 814.27 billion, with net assets attributable to shareholders at RMB 191.67 billion as of the end of 2024[17]. - Total assets reached RMB 846.57 billion in 2023, a decrease from RMB 905.51 billion in 2022[83]. - Equity attributable to shareholders of the parent company was RMB 320.32 billion in 2023, down from RMB 365.78 billion in 2022[84]. - Net profit attributable to shareholders of the parent company was RMB 110.54 billion in 2023, compared to RMB 127.51 billion in 2022[87]. - Operating income for 2023 was RMB 1,650.95 billion, an increase from RMB 1,791.08 billion in 2022[85]. - Operating revenue for 2024 reached CNY 41.47 billion, an increase of 13.37% compared to 2023[89]. - Net profit attributable to shareholders for 2024 was CNY 15.35 billion, reflecting a growth of 20.40% year-over-year[89]. - Basic earnings per share for 2024 increased to CNY 1.62, a rise of 20.00% from 2023[90]. Risk Management and Compliance - The company is facing various risks including policy risks due to macroeconomic adjustments and compliance risks related to legal and regulatory changes in the securities industry[11]. - The company emphasizes the importance of risk management in light of market volatility and liquidity risks inherent in the securities market[10]. - The company is committed to enhancing its compliance and risk management capabilities, implementing a comprehensive risk management system that adapts to its international development[124]. International Expansion - The company is expanding its international strategy, entering markets in the US, UK, Singapore, Vietnam, Japan, and Hong Kong, which presents more complex regulatory requirements[11]. - The company has expanded its international business, becoming the first Chinese broker to obtain direct trading qualifications in the Vietnamese securities market[33]. - Huatai International has received approval for a securities trading code in Vietnam, allowing direct trading on Ho Chi Minh City and Hanoi stock exchanges[64]. - In May 2024, Huatai Jin控 (Hong Kong) obtained underwriting qualifications for the Tokyo PRO-BOND Market, planning to engage in issuance and underwriting in Japan[64]. - Huatai Securities (USA) launched its FICC business in 2024, expanding cross-border trading products and market channels[65]. - The company has established a wholly-owned subsidiary in Singapore to deepen its international layout and provide services to Southeast Asian emerging economies[66]. Asset Management and Investment - The company has served over 270 technology innovation enterprises with a total market value of approximately RMB 9.47 trillion as of the end of the reporting period[36]. - The company has underwritten 136 technology innovation bonds with a total scale of RMB 350.13 billion[36]. - The company’s asset management scale of Huatai Asset Management Company reached RMB 556.267 billion, showing significant growth compared to the previous year[183]. - The total management scale of collective asset management business reached RMB 632.71 billion, an increase of 18.43% from RMB 534.18 billion in 2023[191]. - The single asset management business managed a total scale of RMB 1,562.32 billion, up 19.5% from RMB 1,307.51 billion in 2023[191]. - The public fund management business reached a total scale of RMB 1,386.69 billion, a significant increase of 44.4% from RMB 959.38 billion in 2023[191]. Awards and Recognition - The company has been recognized with an AAA MSCI ESG rating, the highest in the global investment banking industry[17]. - The company received multiple awards for its financial technology initiatives, including the "2024 Financial Technology Golden Bull Award" and recognition for best board practices[99]. - The company was recognized as the "2024 Comprehensive Wealth Brokerage" and "2024 Digital Transformation Leader" at the 2024 China Securities Industry Awards[101]. - The "Zhangle Wealth App" won the "2024 Outstanding Brokerage App" award, highlighting its digital innovation in wealth management services[101]. Technology and Innovation - The company has initiated a comprehensive digital transformation since 2019, focusing on business platform development and integrating digital thinking across all operational levels[120]. - The company has actively embraced AI technology, advancing the construction of large model capabilities and achieving initial applications in intelligent research reports and investment advisory services[120]. - The company has launched a series of innovative platforms such as "Chat TA," "Qing Yun," and "Investment Banking Cloud," promoting business model restructuring and establishing market-leading advantages[120]. Market Position and Competitive Advantage - The company operates in the securities industry, which is closely linked to the development of capital markets, maintaining a strong market position amid a complex environment[109]. - The company has established a comprehensive service system covering the entire business chain, enhancing its competitive advantage in the securities industry[110]. - The company’s main business segments include wealth management, institutional services, investment management, and international business, leveraging a technology-driven model[111]. - The company has achieved a historic breakthrough in market-oriented, digital, and international development, maintaining a leading position in the industry with a strong asset scale and profitability[118].